Daily technical analysis and forecast for 16 June 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, Brent and BTCUSD for 16 June 2026.

EURUSD forecast

On the EURUSD H4 chart, the market completed an upward wave to 1.1619. Today, 16 June 2026, a consolidation range is forming below this level. If the price breaks upwards, a correction could continue towards 1.1645. Conversely, a downward breakout would open the potential for a decline to 1.1570. Afterwards, the price is likely to climb to 1.1645 before dipping to 1.1455, a local target.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the wave matrix with a pivot point at 1.1680, a key level in the EURUSD downward wave structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 1.1570. Τhe upward wave towards its upper boundary at 1.1620 has been completed. A downward move towards its lower boundary at 1.1570 is expected, followed by growth towards its upper boundary at 1.1645.

Technical indicators for today’s EURUSD forecast suggest the upward wave could complete at 1.1645, with the price beginning to decline in line with the trend towards 1.1455.

USDJPY forecast

On the USDJPY H4 chart, the market found support at 159.70 and continues to develop a consolidation range around 160.00. Today, 16 June 2026, if the price breaks above the range, the wave could continue towards 161.50, a local target.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 159.10, a key level in this wave structure. At the moment, the market found support at 159.70 and continues the upward wave towards the upper boundary of the Price Envelope at 161.50. Afterwards, a new consolidation range is expected to develop below this level. A downward breakout would open the door for a decline to its lower boundary at 160.30, while an upward breakout would open the way towards its upper boundary at 162.20.

Technical indicators for today’s USDJPY forecast suggest growth towards 161.50.

GBPUSD forecast

On the GBPUSD H4 chart, the market completed an upward wave to 1.3460 and then declined to 1.3390. Today, 16 June 2026, a consolidation range continues to form around this level. If the price breaks below this mark, the wave could continue towards 1.3360. Conversely, an upward breakout could trigger a correction towards 1.3475. Afterwards, the price is expected to decline in line with the trend towards 1.3277.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 1.3398, a key level in this wave structure. Today, the market completed an upward wave to the upper boundary of the Price Envelope at 1.3460 and a downward move to its central line at 1.3390. Afterwards, the price could drop towards the lower boundary at 1.3360 before rising to its upper boundary at 1.3475, a local target.

Technical indicators for today’s GBPUSD forecast suggest growth towards 1.3475 and the beginning of a decline to 1.3277.

AUDUSD forecast

On the AUDUSD H4 chart, the market completed an upward move to 0.7082. Today, 16 June 2026, a corrective move towards 0.7033 is forming. In effect, a consolidation range has formed around this level. An upward wave towards 0.7091 is expected, followed by a decline to 0.7000 and possibly further to 0.6900.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix for AUDUSD with a pivot point at 0.7200, a key level in this wave structure. At the moment, the market is forming an upward wave towards the upper boundary of the Price Envelope at 0.7091. Subsequently, a decline towards its lower boundary at 0.6900 is expected to begin.

Technical indicators for today’s AUDUSD forecast suggest growth towards 0.7091, followed by a decline to 0.6900.

USDCAD forecast

On the USDCAD H4 chart, the market continues to develop a consolidation range around 1.3970. Today, 16 June 2026, the range expanded upwards to 1.4000. Afterwards, a downward move towards 1.3970 is possible, followed by growth towards 1.4050.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 1.3629, a key level for USDCAD in this upward wave structure. At the moment, the market is forming an upward wave towards the upper boundary of the Price Envelope at 1.4050. Afterwards, a decline towards its lower boundary at 1.3920 is expected.

Technical indicators for today’s USDCAD forecast suggest growth towards 1.4050.

XAUUSD forecast

On the XAUUSD H4 chart, the market formed a consolidation range around 4,188. Today, 16 June 2026, a growth structure towards 4,365 has been completed. Afterwards, prices are expected to decline to 4,188, possibly edging lower to 3,900.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 4,550, a key level for XAUUSD in this downward wave structure. At the moment, the market completed an upward wave towards the upper boundary of the Price Envelope at 4,365. Afterwards, a consolidation range is expected to form below this level, with prices subsequently declining towards its lower boundary at 3,900.

Technical indicators for today’s XAUUSD forecast prices could start to move lower towards 3,900.

Brent forecast

On the Brent H4 chart, the market completed a downward wave to 81.90. Today, 16 June 2026, a consolidation range could develop above this level. Afterwards, growth towards 87.50 is expected, with the potential for the wave to continue towards 92.92.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 98.00, a key level for Brent in this wave structure. At the moment, the market is forming a consolidation range above the lower boundary of the Price Envelope at 81.90. A consolidation range is expected to form around this level, possibly expanding downwards to 81.22. Afterwards, growth towards 87.50 is expected.

Technical indicators for today’s Brent forecast suggest the beginning of growth towards 87.50.

BTCUSD forecast

On the BTCUSD H4 chart, the market completed a downward wave to 65,633. Today, 16 June 2026, the upward wave could continue towards 67,330. A breakout above this level would open the way towards 69,900, a local target.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 71,000, a key level for BTCUSD in this wave structure. At the moment, the market is developing an upward wave towards the upper boundary of the Price Envelope at 67,330. Afterwards, a consolidation range is expected to form below this level.

Technical indicators for today’s BTCUSD forecast suggest a continued upward wave towards 67,330.

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